Lenz & Staehelin Caceis reorganises its European assets servicing activities

Lenz & Staehelin has advised Caceis on the acquisition of the European asset servicing activities of Royal Bank of Canada. As of June 1, 2024 – less than a year after this acquisition – Caceis teams in Switzerland, France, Luxembourg, Belgium and Ireland are operating under common entities. The migration of client portfolios will complete in the coming months.

All necessary regulatory approvals for the merger of entities in different jurisdictions – including Switzerland – and all corporate steps are complete. In Switzerland, the transaction mainly affected the Group’s Zurich branch, Caceis Bank, Montrouge, Zurich Branch / Switzerland, which obtained new authorisation from FINMA as a branch of a foreign branch, as a custodian bank and as a representative of foreign funds.

Lenz & Staehelin’s team

Partner François Rayroux (pictured left), counsel Laurence Vogt Scholler (pictured center) and senior associate Sarah Bechaalany (pictured right) led Switzerland’s team, whereas Frédéric Neukomm (partner) conducted the tax analysis and Sarah Rousselle-Ruffieux (counsel) covered the employment-law related aspects.

The multijurisdictional cross-border team of Linklaters ensured global coordination.